Here are your social media business updates for Thursday:
Zynga Acquiring OMGPOP for Lofty $200M: Wunderkind game company Zynga (NASDAQ:ZNGA) has laid plans to purchase game startup OMGPOP for a clean $200 million. As Bloomberg reports, Zynga has extended the indie ‘Draw Something’ developer an unprecedented sum to come under its wing. Zynga, the world’s largest developer of social media titles, has been on an acquisition spree since 2010 — spending a cumulative $142.2 million to acquire 22 separate developers. However, the pending acquisition of OMGPOP is by far its most ambitious purchase yet, and only bodes well for Zynga’s voracious expansion — OMGPOP’s ‘Draw Something’ has proved a runaway success on tablets, becoming an overnight bestseller on Apple‘s (NASDAQ:AAPL) iPad.
Youtube Renovates Editing Features: Youtube, Google‘s (NASDAQ:GOOG) streaming media holding, has just rehashed its editing features. The Washington Post reports that the world’s most popular streaming content site has released a wave of new features designed to improve the quality of its videos. The added features will broadly improve the quality of uploaded video, with editing tools designed to smooth color shading and otherwise augment picture quality among the pending debuts. Youtube simultaneously announced a $100 million investment in original content — site analytics also point out that registered users are uploading an unprecedented 1 hour of their own content per second.
Zuckerberg Snubs Pre-IPO Meeting: Mark Zuckerberg, Facebook’s figurehead CEO, reportedly skipped out on a crucial pre-IPO meeting. As bizjournals.com reports, Zuckerberg allegedly opted out of a crucial meeting with tech analysts that would shape evaluation of the social media giant’s IPO price. Zuckerberg seems to be remaining persistently aloof of financial management, with the duty to lead the crucial pre-IPO meeting handed off directly to Facebook CFO David Ebersman. While Facebook has officially filed for a $5 billion IPO, the analyst meeting was held in hopes that the IPO might double to a $10 billion evaluation. Facebook’s upcoming IPO would make it the latest social media giant to go public, following shortly on the heels of Pandora Media (NYSE:P) and LinkedIn (NYSE:LNKD).
Adam Patterson is an Assistant Editor of InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities. For more on social media, check out our previous Trending Social stories.